Blockchains and cryptocurrency are the hottest topics lately. These distributed and shared ledger technologies managed to become a part of almost every transaction that takes place in the world of today and there is no industry that is not affected by it.
Almost every business startup campaign started incorporating this technology because it gives them the ability to raise great funds. There is a totally new form of crowdfunding called the Initial Coin Offering and it is successfully utilizing this technology to raise exceptional amounts of money for startup campaigns.
Offering new and innovative solutions for startups has become a routine now and they are adapting their services easily with blockchain technology to make a difference. This only means that almost every service or industry will be disrupted by this new technology one way or the other. In terms of democracy, blockchain has yet to play its part.
For now, there are indications that using this technology could significantly improve democracy. There is one thing that remains yet to be seen. Can blockchain decentralize the government and if it can, at what cost? Improving democracy means giving more power to the people and cryptocurrency and all that new and innovative technology sure did put the people in charge of some things. It would be simple logic to jump to a conclusion that by improving democracy, blockchain could be decentralizing the main government in one country.
Let people decide by voting
If the majority of people votes for using blockchain, they could put an end to any electoral fraud. Using blockchains in these processes could make the votes traceable, verifiable and immutable. Also, the results would be instantly available and votes would be securely and safely recorded on a blockchain.
That way, each citizen would be sure that their votes are counted properly and submitted 100%. This means that using blockchains would avoid any frauds during the elections, the evergrowing problem that each country has to face.
If you look at this, it is clear that blockchain could improve democracy and it most certainly could decentralize the ruling government, especially in the situations when people are not satisfied with their way of managing things. What is also important is the fact that each voter would get the ensured privacy.
Electronic voting is especially present in Estonia and they were the first country in the world to allow this type of voting. Still, this is still very far from being used in all countries all over the world. In some countries, the ruling parties are so strong that they do not allow such actions even if the people want it.
It has become perfectly clear that blockchain technology could significantly improve all electoral processes and the most logical step would be to use the Internet for voting. Instead of going to the voting places, people could vote over the Internet which would most likely increase their participation. This is good in every way you look at it.